I do get this view and in many ways I agree - for me a car in an investment in flexibility.

I could hire a car/van as an when I need one, and send my kids to school by taxi and do my local shopping by bike (which I already do other than the 'big' shop that my wife does).

But investing £3k 10 years ago on a 10 year old car (now 20 years old) has proven a great investment. In a bad year it has cost £500 pa in maintenance, but in an average year I pay more in VED(tax) than I do on a service and mot.

I could have bought £3k of ftse 100 stock and have used the dividends and growth for transport, but I think that has turned out better for me. But I'll be honest, I've not done all the maths, but I don't think investing £3k would cover my costs and I would have eaten into the principle long ago. At best I have a £250 (scrap value) asset now, but realistically if I continue to spend £200-500 a year on looking after my investment, I'll get flexible transport.